NYSE:HUBBElectrical
Hubbell (HUBB) Stock Cools As NSI Debt Clouds Strong Growth
Hubbell stock fell 4.8% today, even though the quarter it just reported would usually be considered a win for an electrical equipment maker. The company delivered Q2 net sales of US$1.712b with double digit organic growth and adjusted earnings per share of US$5.52. The main point of concern is on the balance sheet. Investors are weighing the higher profit against a jump in leverage after the roughly US$3b NSI deal, with pro forma net debt now near 2.9x earnings before interest, tax,...